Aggressive bidding for the UK hospitals arm of Bupa pushed offers close to £1.4 billion after the first round of bids.
At least six groups are thought to be involved in the bidding for the 26 hospitals, including the private equity firms Blackstone, Cinven and CVC and the Australian investment bank Macquarie.
Ramsay Health Care, Australia’s biggest private hospital operator, is also eyeing a joint bid financed by private equity.
A preferred bidder is expected to be picked in June.
The hospitals treat about 250,000 patients each year.
Bupa, which will remain a significant customer of the hospitals after their sale, will not allow them to be sold to an existing player in the UK hospitals sector.
Private medical insurance: News update: May 2007
